Description
Need all work shown so i understand how to do this.
Problem 1:
Kali Manufacturing Inc. began the year with the following.
Units |
||
Beginning work-in-process |
20,000 |
20% complete |
Transferred to finished goods |
60,000 |
|
Ending inventory |
10,000 |
70% complete |
Materials added at the beginning of the process
Required
Calculate the equivalent units for
- material costs under the weighted average process cost method;
- conversion costs under the weighted average process cost method;
- material costs under the FIFO process cost method; and
- conversion costs under the FIFO process cost method.
Problem 2:
Glass Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows.
Production Data |
units |
In process, beginning of month (20% converted) |
2000 |
Started during current month |
8000 |
Completed and transferred to finished goods |
5500 |
In process, end of month (60% converted) |
4500 |
Manufacturing Costs |
|
Work in process, beginning |
|
-Materials |
$15,000 |
-Conversion |
$6,450 |
Production Costs Added |
|
-Materials |
$54,000 |
-Direct labor cost |
$105,000 |
-Factory overhead cost |
$36,150 |
Required
Prepare a cost of production report for current month. Use Weighted-Ave process costing.
Explanation & Answer
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
A Farewell To Arms
by Ernest Hemingway
Cat on a Hot Tin Roof
by Tennessee Williams
Big Little Lies
by Liane Moriarty
Mockingjay
by Suzanne Collins
The Picture of Dorian Gray
by Oscar Wilde
The Fault in Our Stars
by John Green
The 5 Love Languages
by Gary Chapman
The Da Vinci Code
by Dan Brown
The Metamorphosis
by Franz Kafka